I’d like to see the actual Chargers stadium proposal, but based on the task force’s official write-up which I presume is accurate, appears to be a $467 million taxpayer giveaway to keep the Chargers here — ignoring cost overruns and “surprises.” And apparently that’s not counting the 60 acres of land valued at $180 million (not sure how land ownership is handled). Again, I caution that my interpretation of the proposal may not be completely accurate.
The fact that there is no actual tax INCREASE is no surprise — the proponents were desperate to avoid any taxpayer vote on the matter. I predicted this wrinkle months ago.
Of course, the fact that there’s no legally required vote on a tax increase does not preclude our mayor and city council deciding to put the matter before the voters. They still have that option — assuming they don’t reject the task force’s proposal outright.
Is it sound policy for our city and county to provide such a huge subsidy to a business owned by a billionaire that employs millionaires? Not in my mind. That money and salable land are assets that can be used to help with our pension funding problems, and our even bigger multi-billion dollar infrastructure deficit.
I’d like for the Chargers to stay, but not at that cost — a total of about $650 million (or more). Not even close.